Shark-Tank Featured Palmonas Raises Rs 55 Crore

August 26, 2025

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Why in the News?

Palmonas, the demi-fine jewellery brand co-founded by actress Shraddha Kapoor alongside Amol Patwari and Pallavi Mohadikar, has raised ₹55 crore in a Series A funding round led by Vertex Ventures Southeast Asia & India. The brand, known for its skin-friendly, waterproof designs, aims to bridge the gap between fast fashion and fine jewellery. Shraddha Kapoor, who joined as co-founder in 2024, said the company’s mission is to make jewellery feel “like a second skin, effortless and a part of everyday life.”

Palmonas Plan

With the fresh infusion of funds, Palmonas plans to:

Expand its 9-karat gold demi-fine jewellery collection.
Open 100 new stores across India in the next year, targeting both malls and high streets.
Invest in customer experience and product innovation.
Scale its direct-to-consumer model while strengthening its presence on marketplaces like Amazon and Flipkart. CEO and Co-founder Pallavi Mohadikar highlighted that the brand launched its first collection just ten days after the idea was conceived, reflecting its fast-moving and ambitious culture. The new capital will allow Palmonas to scale this speed-driven model nationwide.

The Story of Palmonas

This latest raise follows a series of funding milestones for the brand. Earlier in 2025, Palmonas secured ₹1.26 crore on Shark Tank India from Namita Thapar and Ritesh Agarwal at a valuation of ₹126 crore. In 2023, it raised ₹6 crore in an angel round. Since its launch, the company has fulfilled more than 6.5 lakh orders, establishing itself as a growing name in India’s jewellery market.

Founded in 2022 in Pune, Palmonas was created to offer affordable, premium, everyday jewellery that sits between fast fashion trinkets and expensive fine jewellery. The brand’s USP lies in waterproof, tarnish-resistant, hypoallergenic designs, making them suitable for daily wear.

Palmonas currently runs around 25 stores in metro and tier-2 cities, with expansion underway in Mumbai, Delhi, Bengaluru, Hyderabad, Pune, and smaller cities like Aurangabad and Bhagalpur. Financially, it reported ₹5.38 crore revenue in FY24 (up from ₹3.83 crore in FY23), though it posted a net loss of ₹1.24 crore last fiscal.

Today, Palmonas competes with players like CaratLane, BlueStone, Melorra, Firefly Diamonds, and GIVA, but distinguishes itself with its demi-fine category positioning and the strong personal branding brought in by Shraddha Kapoor.

[Credits for header image: Plantify
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